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National Commerce

Nasdaq:NCOM
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NCOM
Nasdaq
$816M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The last earnings update was 29 days ago. More info.


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NCOM Share Price and Events
7 Day Returns
1%
NasdaqGS:NCOM
2%
US Banks
1.3%
US Market
1 Year Returns
-10.7%
NasdaqGS:NCOM
-9.8%
US Banks
6.6%
US Market
NCOM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
National Commerce (NCOM) 1% -10% 7.7% -10.7% 70.5% -
US Banks 2% -5.8% 8% -9.8% 43.5% 35.2%
US Market 1.3% 0.5% 13.9% 6.6% 37.1% 44.1%
1 Year Return vs Industry and Market
  • NCOM underperformed the Market in United States of America which returned 6.6% over the past year.
Price Volatility
NCOM
Industry
5yr Volatility vs Market

Value

 Is National Commerce undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of National Commerce to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for National Commerce.

NasdaqGS:NCOM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $38.84 * 6%
$2.35
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $38.84
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:NCOM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.62
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.62 (1 + (1- 21%) (7.18%))
0.769
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:NCOM using Excess Returns Model Model

The calculations below outline how an intrinsic value for National Commerce is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:NCOM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6% – 7.5%) * $38.84)
$-0.56
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.56 / (7.5% - 2.73%)
$-11.80
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $38.84 + $-11.80
$27.03
NasdaqGS:NCOM Discount to Share Price
Calculation Result
Value per share (USD) From above. $27.03
Current discount Discount to share price of $39.21
= -1 x ($39.21 - $27.03) / $27.03
-45%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of National Commerce is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for National Commerce's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are National Commerce's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:NCOM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.26
NasdaqGS:NCOM Share Price ** NasdaqGS (2019-03-29) in USD $39.21
United States of America Banks Industry PE Ratio Median Figure of 584 Publicly-Listed Banks Companies 12.87x
United States of America Market PE Ratio Median Figure of 3,066 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of National Commerce.

NasdaqGS:NCOM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:NCOM Share Price ÷ EPS (both in USD)

= 39.21 ÷ 2.26

17.32x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National Commerce is overvalued based on earnings compared to the US Banks industry average.
  • National Commerce is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does National Commerce's expected growth come at a high price?
Raw Data
NasdaqGS:NCOM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
27.9%per year
United States of America Banks Industry PEG Ratio Median Figure of 258 Publicly-Listed Banks Companies 1.18x
United States of America Market PEG Ratio Median Figure of 2,106 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NasdaqGS:NCOM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.32x ÷ 27.9%

0.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National Commerce is good value based on expected growth next year.
Price based on value of assets
What value do investors place on National Commerce's assets?
Raw Data
NasdaqGS:NCOM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $33.20
NasdaqGS:NCOM Share Price * NasdaqGS (2019-03-29) in USD $39.21
United States of America Banks Industry PB Ratio Median Figure of 589 Publicly-Listed Banks Companies 1.22x
United States of America Market PB Ratio Median Figure of 5,161 Publicly-Listed Companies 1.89x
NasdaqGS:NCOM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:NCOM Share Price ÷ Book Value per Share (both in USD)

= 39.21 ÷ 33.20

1.18x

* Primary Listing of National Commerce.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National Commerce is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess National Commerce's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. National Commerce has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is National Commerce expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
27.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is National Commerce expected to grow at an attractive rate?
  • National Commerce's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • National Commerce's earnings growth is expected to exceed the United States of America market average.
  • National Commerce's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:NCOM Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:NCOM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 27.9%
NasdaqGS:NCOM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 15.6%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:NCOM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:NCOM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 224 75 1
2019-12-31 206 64 1
NasdaqGS:NCOM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 165 58 42
2018-09-30 148 44 33
2018-06-30 133 34 27
2018-03-31 124 38 23
2017-12-31 115 46 20
2017-09-30 105 51 24
2017-06-30 96 58 22
2017-03-31 87 48 20
2016-12-31 78 29 18
2016-09-30 74 42 16
2016-06-30 68 32 14
2016-03-31 63 35 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • National Commerce's earnings are expected to grow significantly at over 20% yearly.
  • National Commerce's revenue is expected to grow by 15.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:NCOM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from National Commerce Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:NCOM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.55 3.65 3.45 2.00
2019-12-31 3.02 3.06 2.97 2.00
NasdaqGS:NCOM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.26
2018-09-30 1.90
2018-06-30 1.73
2018-03-31 1.56
2017-12-31 1.45
2017-09-30 1.87
2017-06-30 1.84
2017-03-31 1.75
2016-12-31 1.64
2016-09-30 1.48
2016-06-30 1.31
2016-03-31 1.14

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • National Commerce is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess National Commerce's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
National Commerce has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has National Commerce performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare National Commerce's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • National Commerce has delivered over 20% year on year earnings growth in the past 5 years.
  • National Commerce's 1-year earnings growth exceeds its 5-year average (111.5% vs 41.5%)
  • National Commerce's earnings growth has exceeded the US Banks industry average in the past year (111.5% vs 43.8%).
Earnings and Revenue History
National Commerce's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from National Commerce Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:NCOM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 164.78 42.44 75.38
2018-09-30 148.17 32.75 72.70
2018-06-30 133.47 27.47 67.22
2018-03-31 124.42 23.23 63.94
2017-12-31 115.24 20.07 54.07
2017-09-30 104.72 23.97 53.10
2017-06-30 96.14 22.09 49.06
2017-03-31 87.35 19.99 45.18
2016-12-31 77.89 17.85 37.17
2016-09-30 74.36 15.88 35.80
2016-06-30 68.26 13.56 33.60
2016-03-31 62.88 11.46 31.46
2015-12-31 57.40 9.61 31.91
2015-09-30 51.23 8.37 26.46
2015-06-30 45.37 7.40 23.79
2015-03-31 38.78 6.28 20.86
2014-12-31 32.53 5.40 17.80
2014-09-30 28.96 5.15 16.11
2014-06-30 27.31 4.65 15.44
2014-03-31 26.34 4.28 15.18
2013-12-31 26.00 4.01 15.36
2012-12-31 21.21 2.06 13.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • National Commerce has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • National Commerce used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if National Commerce improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess National Commerce's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
National Commerce has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is National Commerce's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of National Commerce's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from National Commerce Company Filings, last reported 3 months ago.

NasdaqGS:NCOM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 697.06 58.58 179.97
2018-09-30 684.81 58.90 181.70
2018-06-30 516.80 32.81 190.37
2018-03-31 505.73 32.30 119.63
2017-12-31 399.96 31.91 219.56
2017-09-30 398.59 33.25 131.31
2017-06-30 363.26 32.30 211.54
2017-03-31 317.42 32.09 304.73
2016-12-31 237.04 31.87 209.58
2016-09-30 232.17 31.49 121.60
2016-06-30 226.12 31.54 78.53
2016-03-31 221.10 7.00 121.95
2015-12-31 216.64 22.52 200.50
2015-09-30 177.42 22.00 185.45
2015-06-30 174.63 22.00 139.36
2015-03-31 172.17 22.00 138.98
2014-12-31 136.16 22.42 121.10
2014-09-30 104.05 22.00 90.91
2014-06-30 92.36 22.00 105.89
2014-03-31 88.94 22.35 109.31
2013-12-31 88.94 22.35 109.31
2012-12-31 85.85 24.69 161.02
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • National Commerce has an acceptable proportion of non-loan assets held.
  • National Commerce's liabilities are made up of primarily low risk sources of funding.
  • Loans at National Commerce are broadly funded by customer deposits.
  • National Commerce's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • National Commerce has a sufficient allowance for bad loans.
  • National Commerce has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess National Commerce's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. National Commerce has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is National Commerce's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from National Commerce dividends.
If you bought $2,000 of National Commerce shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate National Commerce's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate National Commerce's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:NCOM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 469 Stocks 3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2001 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:NCOM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as National Commerce has not reported any payouts.
  • Unable to verify if National Commerce's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of National Commerce's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as National Commerce has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess National Commerce's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can National Commerce afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. National Commerce has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of National Commerce's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Richard Murray
COMPENSATION $2,133,452
AGE 55
TENURE AS CEO 1.9 years
CEO Bio

Mr. Richard Murray, IV has been Chairman of National Commerce Corporation since August 28, 2018. He has been Director of National Commerce Corporation (“NCC”) since 2010 and has been its Chief Executive Officer since May 31, 2017. He was President of National Commerce Corporation since October 2010 until August 28, 2018. He serves as Chief Executive Officer of the National Bank Corporation since June 2012. He serves as President of National Bank Corporation (NBC) since October 2010. He was Chief Operating Officer of National Commerce Corporation from October 2010 until May 2017 and served as Chief Operating Officer of National Bank Corporation (NBC) from October 2010 until June 2012. Mr. Murray previously served as President and Chief Operating Officer of Alabama National Bancorporation since 2000 until it was acquired in 2008, and then as Regional President (Alabama and Florida) of RBC Bank (USA) from February 2008 to July 2009. Mr. Murray has more than 30 years of commercial banking experience.

CEO Compensation
  • Richard's compensation has increased by more than 20% in the past year.
  • Richard's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the National Commerce management team in years:

1.6
Average Tenure
55
Average Age
  • The average tenure for the National Commerce management team is less than 2 years, this suggests a new team.
Management Team

Richard Murray

TITLE
Chairman & CEO
COMPENSATION
$2M
AGE
55
TENURE
1.9 yrs

Will Matthews

TITLE
CFO, President & Director
COMPENSATION
$2M
AGE
53
TENURE
0.7 yrs

Shelly Williams

TITLE
Senior VP & Chief Accounting Officer
AGE
55
TENURE
0.3 yrs

Robert Aland

TITLE
Chief Administrative Officer
AGE
55
TENURE
0.7 yrs

Lowell Womack

TITLE
Director of Financial Reporting

John Bragg

TITLE
Executive Vice President of Bank Operations
AGE
56
TENURE
8.5 yrs

M. Goodson

TITLE
Executive VP of Senior Leader & Chief Credit Officer of the Bank
COMPENSATION
$470K
AGE
46
TENURE
1.3 yrs

William Ireland

TITLE
Executive VP & Chief Risk Management Officer
AGE
60
TENURE
8.5 yrs

Skip Thompson

TITLE
CEO & President of Corporate Billing
AGE
58
TENURE
10.3 yrs
Board of Directors Tenure

Average tenure and age of the National Commerce board of directors in years:

7.4
Average Tenure
61
Average Age
  • The tenure for the National Commerce board of directors is about average.
Board of Directors

John Holcomb

TITLE
Vice Chairman
COMPENSATION
$1M
AGE
66
TENURE
0.7 yrs

Richard Murray

TITLE
Chairman & CEO
COMPENSATION
$2M
AGE
55
TENURE
0.7 yrs

Will Matthews

TITLE
CFO, President & Director
COMPENSATION
$2M
AGE
53
TENURE
8.5 yrs

Stan Starnes

TITLE
Director
COMPENSATION
$82K
AGE
69
TENURE
9.3 yrs

G. Page

TITLE
Lead Independent Director
COMPENSATION
$97K
AGE
58
TENURE
4.3 yrs

Temple Tutwiler

TITLE
Director
COMPENSATION
$79K
AGE
64
TENURE
6.3 yrs

R. Head

TITLE
Director
COMPENSATION
$75K
AGE
62
TENURE
6.3 yrs

Charles McWane

TITLE
Director
COMPENSATION
$61K
AGE
60
TENURE
9.3 yrs

Russell Vandevelde

TITLE
Director
COMPENSATION
$68K
AGE
51
TENURE
13.3 yrs

Bobby Bradley

TITLE
Director
COMPENSATION
$69K
AGE
68
TENURE
9.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess National Commerce's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. National Commerce has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

One Thing To Remember About The National Commerce Corporation (NASDAQ:NCOM) Share Price

If you're interested in National Commerce Corporation (NASDAQ:NCOM), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Should National Commerce Corporation (NASDAQ:NCOM) Be Your Next Stock Pick?

I've been keeping an eye on National Commerce Corporation (NASDAQ:NCOM) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe NCOM has a lot to offer.

Simply Wall St -

When Should You Buy National Commerce Corporation (NASDAQ:NCOM)?

National Commerce Corporation (NASDAQ:NCOM), operating in the financial services industry based in United States,. … A question to answer is whether National Commerce's current trading price of $40.15 reflective of the actual value of the? … Let’s take a look at National Commerce’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Why National Commerce Corporation (NASDAQ:NCOM) Delivered An Inferior ROE Compared To The Industry

National Commerce Corporation (NASDAQ:NCOM) generated a below-average return on equity of 5.7% in the past 12 months, while its industry returned 8.8%. … Though NCOM's recent performance is underwhelming, it is useful to understand what ROE is made up of and how it should be interpreted. … Knowing these components can change your views on NCOM's below-average returns.

Simply Wall St -

What Makes National Commerce Corporation (NASDAQ:NCOM) A Hard Investment?

As a small-cap finance stock with a market capitalisation of US$908.46m, the risk and profitability of National Commerce Corporation (NASDAQ:NCOM) are largely tied to the underlying economic growth of the region it operates in US. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like National Commerce to vulnerabilities. … Today we will be measuring National Commerce’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

How Does National Commerce Corporation (NASDAQ:NCOM) Affect Your Portfolio Returns?

The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … Different characteristics of a stock expose it to various levels of market risk. … The most widely used metric to quantify a stock's market risk is beta, and the market as a whole represents a beta of one.

Simply Wall St -

Why National Commerce Corporation (NASDAQ:NCOM) May Not Be As Risky Than You Think

As a small-cap bank with a market capitalisation of US$826.98m, National Commerce Corporation’s (NASDAQ:NCOM) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting National Commerce’s bottom line. … Today we will analyse National Commerce’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Should You Buy National Commerce Corporation (NASDAQ:NCOM) Now?

National Commerce Corporation (NASDAQ:NCOM), operating in the financial services industry based in United States,. … A question to answer is whether National Commerce's current trading price of $46.55 reflective of the actual value of the? … Let’s take a look at National Commerce’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should National Commerce Corporation (NASDAQ:NCOM) Be Your Next Stock Pick?

National Commerce Corporation (NASDAQ:NCOM) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of NCOM, it.

Simply Wall St -

Why National Commerce Corporation (NASDAQ:NCOM) May Not Be As Risky Than You Think

Risk associate with repayment is measured by the level of bad debt which is an expense written off National Commerce’s bottom line. … Today we will analyse National Commerce’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank. … Since National Commerce’s total deposit to total liabilities is very high at 97.78% which is well-above the prudent level of 50% for banks, National Commerce may be too cautious with its level of deposits and has plenty of headroom to take on risker forms of liability.Next Steps: National Commerce shows prudent management of risky assets and lending behaviour.

Simply Wall St -

Company Info

Description

National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts. It also provides real estate loans, such as commercial real estate term, residential mortgage, and construction and land development loans, as well as home equity lines of credit secured by residential property; commercial and industrial loans; and consumer loans to purchase automobiles and other consumer durable goods. In addition, the company provides factoring, invoicing, collection, and accounts receivable management services to transportation companies, and automotive parts and service providers; and electronic banking services, including commercial and retail online banking, automated bill payment, mobile banking, and remote deposit capture. The company offers its services through 7 full-service banking offices in Birmingham, Huntsville, Auburn-Opelika, and Baldwin County, Alabama; 24 full-service banking offices in central and northeast Florida, including United Legacy Bank, Reunion Bank of Florida, Patriot Bank, FirstAtlantic Bank, and Premier Community Bank of Florida names; and 5 full-service banking offices in Atlanta, Georgia. National Commerce Corporation was founded in 2004 and is headquartered in Birmingham, Alabama.

Details
Name: National Commerce Corporation
NCOM
Exchange: NasdaqGS
Founded: 2004
$816,084,199
20,813,165
Website: http://www.nationalbankofcommerce.com
Address: National Commerce Corporation
600 Luckie Drive,
Suite 350,
Birmingham,
Alabama, 35223,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS NCOM Common Stock Nasdaq Global Select US USD 19. Mar 2015
Number of employees
Current staff
Staff numbers
632
National Commerce employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/02 00:53
End of day share price update: 2019/03/29 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/03/04
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.